Eldorado Bancorp Shows 18.5% Increase in Income
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Eldorado Bancorp in Tustin, a one-bank holding company for Eldorado Bank, posted net income of $364,073 for the first quarter, an 18.5% increase from $307,000.
J.B. Crowell, president and chief executive officer of the both the holding company and the bank, said the 14-year-old bank had loan losses of only $73,000 in the first quarter and that he expected “substantially lower” net loan losses throughout the year.
Total corporate assets as of March 31, mostly the bank’s assets, hit a record high of $174.6 million, slightly above the $171.9 million reported a year earlier. The bank’s ratio of capital to assets on March 31 was 8.6%, well above the 6% ratio that federal regulators require.
The bank’s total loans were down slightly to $103 million from $103.8 million, but total deposits increased to $158.1 million from $155.2 million.
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